Wednesday, November 30, 2011

US worker efficiency had risen less than expected

The efficiency of US workers in the third quarter had risen less than expected. The productivity rose 2.5 percent, less than the expected value 3.1 percent. The productivity depends on how much longer corporate American can make more with less labor input. As the productivity was not as what the corporate expected, they might need to hire more workers. In our economics 183 class, we have discussed that productivity had accelerated by having a larger firm and using electronic machines, having computer might also increase the productivity of the company. However, as most of the industries are well developed now, how can a company do in order to increase the productivity of its workers? Would it be having a higher education? A better training? Or do we need to have another huge innovation in technology in order to boost up the productivity?

http://www.bloomberg.com/news/2011-11-30/u-s-third-quarter-productivity-increases-2-3-less-than-first-estimated.html

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